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Views: 130 DOM: 511 Updated: 08.23.24 Posted: 04.24.23 Status: Active

Summary

Price $3,050,000
Built/Renov 2016
Tenant Freddy's Frozen Custard & Steakburgers (GL)
Cap Rate 5.41%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 3,332
Lease Start 08-01-2016
#Units 9
Price/SF $915.37
Expiration 07-31-2031
Tenant Type Fast Casual/Rest.
NOI $164,890
R. Term 6.10
Ownership Ground Lease
Rent/SF $49.49
Increases 10.0%/3/yrs
Pop 5Mi 195,602
Lot/AC 1.35
Options 3/5yrs/10%
AHHI 5Mi $108,760

Lease Highlights

  • 8+ years remain on this franchisee signed lease with 3 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period
  • Absolute NNN ground lease with zero landlord responsibilities

Location Description

Freddy’s is located at the signalized, hard corner intersection of Scenic Highway North and Tree Lane averaging 57,400 vehicles passing by daily. Scenic Highway is a dense, primary retail corridor serving the city of Snellville with many national/credit tenants such as Chipotle, Outback, Zaxby’s, McDonald’s, Target, Best Buy, Lowe’s, Walmart Suepercenter and many more. Additionally, the site...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Freddy's Frozen Custard & Steakburgers is an award-winning, American fast-casual restaurant chain . Its menu includes steakburgers, Vienna Beef hot dogs, and chicken...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 6,071 72,572 201,723
2023 Total Population : 5,677 68,922 195,645
2023 Employed Civilian Pop : 2,527 35,757 100,803
2023 Total Businesses : 404 2,226 4,861
2023 Average Household Income : $ 113,123 $ 120,037 $ 108,936
2023 Total Consumer Spending : $ 182 M $ 2246 M $ 5850 M
2023 Median Age : 47 40 38
2023 Total Households : 1,900 22,016 62,700
2023 Pop Age 25+: Bachelor's Degree : 1,410 14,719 34,473
2023 Average Home Value : $ 369,378 $ 366,324 $ 343,934
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Pharrs Rd North Rd SW 2012 7,232 0.08 mi
Pharrs Rd Long St SW 2012 7,744 0.33 mi
North Rd SW Bennett Rdg 2000 5,988 0.34 mi
Presidential Cir Medical Way 2014 7,068 0.40 mi
North Rd SW Collinswood Dr 2013 5,672 0.40 mi
Ridgedale Dr Scenic Hwy 2013 6,062 0.41 mi
Scenic Highway Ridgedale Dr 2019 41,300 0.41 mi
Scenic Highway Blue Heather Ct SW 2021 41,200 0.41 mi
Scenic Hwy Ronald Reagan Pkwy 2008 55,550 0.59 mi
North Rd SW Mt Zion Rd SW 2012 4,420 0.61 mi

Listing Broker

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